ACCT 580- Advanced Taxation

Research Exercise #6: Federal Estate & Gift Taxes

Instructions:

To complete this assignment, you need to use the CCH Tax Research Network, available on  the CWU Library network:

  1. You must be logged into the CWU network (click here for help).

  2. You should click on this link to the CCH tax service with your right mouse button and have the CCH service open in a new window. Then you can use the service to find the answers and the form below to submit your answers.

  3. To use the CCH Tax Research Network to answer these questions:

    -Click on the Enter button on the first web page  
    -Click on the Federal tab on the main page of the CCH Tax Research Network  
    -Select the appropriate CCH features/resources for the exercise.  

Purpose:

The purpose of this exercise is to introduce you to the use of CCH for the purpose of finding and interpreting:

  1. The sections of the Internal Revenue Code (IRC) that authorize the imposition of the U.S. tax on gratuitous transfers;

  2. Revenue rulings and court cases related to those sections.

 

Last Name:  

 First Name:  

 

Question Number
and CCH Search Section		 Document to find: Enter your answer:
Standard Federal Income Tax Reporter
1. What are the main requirements under §2032A(a)(1) if an executor wants to use the alternative valuation method?
2. What real property qualifies for the special valuation treatment under §2032A?
3. Explain in a tone that is appropriate for a normal person (i.e., not a tax professional), what §2032A(b)(5)(A) allows?
4. When can an executor elect to use the valuation method described under §2032A(e)(8), according to Rev. Rul. 89-30 and the IRC sections discussed therein?
5. What is the importance of the word "and" in the interpretation of §2032A(e)(8), according to Rev. Rul. 89-30?
     
Standard Federal Income Tax Reporter
6. What kind of trust did the petitioner create and with what corpus, in the case of Minnie E. Deal v. CIR (29 TC 730)?
7. Which judge wrote the opinion in this case and what did he use to justify the valuation of the corpus as determined by the CIR?
8. Why were the four exclusions of $3,000 each disallowed with respect to the transfer of the property to the trust?
9. What was the case precedent cited by the judge with respect to these four exclusions?
10. How should the respondent have classified the notes, according to the judge?

    
When you select Submit, your answers will be submitted to a database for grading by me.
The confirmation page that opens will be the only confirmation that you receive.

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Ronald R. Tidd, Ph.D., CPA
509.963.2466
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